ACCOUNTS - Final Accounts


Caseware UK (AP4) 2014.0.91 2014.0.912017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseHolding companyfalse2015-10-13098212652015-10-12098212652015-10-132017-03-31098212652017-03-3109821265 c:Director1 2015-10-132017-03-3109821265 d:Buildings 2015-10-132017-03-3109821265 d:Buildings 2017-03-3109821265 d:CurrentFinancialInstruments 2017-03-3109821265 d:Non-currentFinancialInstruments 2017-03-3109821265 c:OrdinaryShareClass1 2015-10-132017-03-3109821265 c:OrdinaryShareClass1 2017-03-3109821265 c:FRS102 2015-10-132017-03-3109821265 c:AuditExempt-NoAccountantsReport 2015-10-132017-03-3109821265 c:FullAccounts 2015-10-132017-03-3109821265 c:PrivateLimitedCompanyLtd 2015-10-132017-03-3109821265 d:Subsidiary1 2017-03-3109821265 d:Subsidiary1 2015-10-132017-03-3109821265 d:Subsidiary1 1 2015-10-132017-03-31xbrli:sharesiso4217:GBPxbrli:pure

Registered number: 09821265










OLA HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

 
OLA HOLDINGS LIMITED
REGISTERED NUMBER: 09821265

BALANCE SHEET
AS AT 31 MARCH 2017

2017
Note
£

  

Fixed assets
  

Tangible assets
 3 
800,000

Investments
 4 
1,772,359

  
2,572,359

  

Creditors: amounts falling due within one year
 5 
(2,474,093)

Net current (liabilities)/assets
  
 
 
(2,474,093)

Total assets less current liabilities
  
98,266

  

  

  

Net assets excluding pension asset
  
98,266

Net assets
  
98,266


Capital and reserves
  

Called up share capital 
 6 
100

Share premium account
 7 
1,772,259

Profit and loss account
 7 
(1,674,093)

  
98,266


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OLA HOLDINGS LIMITED
REGISTERED NUMBER: 09821265
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2017

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



C J Sheppard
Director

Date: 13 July 2017
The notes on pages 3 to 6 form part of these financial statements.

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OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

1.


General information

OLA Holding Limited is a private limited company, limited by shares and incorporatied in England and Wales, with its registered office and principal place of business at New Smithfield, Shrewsbury Road, Oswestry, Shropshire, SY11 4QA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Nil

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

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OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

2.Accounting policies (continued)

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
2,473,373


Revaluations
(1,673,373)



At 31 March 2017

800,000






At 31 March 2017

-



Net book value



At 31 March 2017
800,000

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OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
1,772,359



At 31 March 2017

1,772,359






Net book value



At 31 March 2017
1,772,359

Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name
Class of shares
Holding
Principal activity

Oswestry Livestock Auctions Limited
Ordinary
 100%
Livestock Auctions


The aggregate of the share capital and reserves as at 31 March 2017 and of the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Aggregate of share capital and reserves
Profit/(loss)
£
£
Oswestry Livestock Auctions Limited

1,048,300

224,223

1,048,300

224,223

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OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2017

5.


Creditors: Amounts falling due within one year

2017
£

Amounts owed to group undertakings
2,473,373

Accruals and deferred income
720

2,474,093



6.


Share capital

2017
£
Shares classified as equity

Allotted, called up and fully paid


10,000 Ordinary shares of £0.01 each
100

During the period 3,375 A shares, 2,675 B shares, 2,100 C shares and 1,850 D shares were allotted. Each share has a nominal value of £0.01. The aggregate nominal value was £100 and £100 was received in consideration for the 100 ordinary shares.


7.


Reserves

Share premium account

During the period the company purchased the shares of the subsidiary. The total consideration was 10,000 ordinary shares at £177.24362 per share, totalling £1,772,359.


8.


Related party transactions

During the year, Oswestry Livestock Auction Limited transferred the property held within the company to OLA Holdings Limited for £2,473,373. A difference on revaluation has then been recognised resulting in loss for the year. 
Included within other creditors due within one year is a loan due to Oswestry Livestock Auction Limited, the subsidiary company, amounting to £2,473,373. 


9.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
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